Today's markets started out weak as overseas markets were weak ahead of our open. There was no economic news to digest and the U.S. Health Care Reform bill passage by the House of Representatives took some blame, but the health care stocks themselves showed that this was not generally the case. Maybe that is arguable, maybe it is just politics. As it turns out, the losses rapidly turned into gains and stocks were suddenly up most of the day. There were also very few earnings to digest. Here were today's unofficial closing bell levels:
Dow 10,797.00 +55.02 (0.51%)
S&P 500 1,165.81 +5.91 (0.51%)
Nasdaq 2,395.40 +20.99 (0.88%)
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Today's bits of economic activity hardly mattered in the grand scheme of the markets. Traders were watching more out of Dubai and the U.A.E. than they were watching what Federal Reserve districts had to say today. Iran also sent oil prices higher by detaining a British cruising race yacht and five Britons, and the added political fallout added to the gains in oil today. Stocks were weak for most of the day, but Dubai comments that $26 billion needed to be restructured (rather than $60 billion) helped in the final hour of the day. 

